This article contributes to the growing interdisciplinary literature on a rights-based approach to mental health by introducing an "existential rights paradigm" that provides a set of values to guide anti-oppressive praxis as psychologists. This paradigm argues that truth, freedom, love, hope, and power are basic existential rights that are required for the welfare, dignity, and sanity of all human beings, even as oppressive social structures seek to limit access for marginalized individuals. The article explicates the psychological and political significance of each of these five existential rights using theoretical literature from both existential and liberation psychologies, to demonstrate how these two theoretical approaches work in tandem with one another toward similar emancipatory aims. The article also grounds the proposed set of existential rights within human rights discourse from the United Nations. Finally, it suggests ways that psychologists devoted to human rights can adopt this existential rights paradigm as an ethical framework or set of value principles to guide our praxis in psychotherapy, research, and teaching.